Word: fastows
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Dates: during 2000-2009
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...hallways, colleagues respected and even feared Fastow's power--but not his presence. A former executive says he was never sure what Fastow was thinking other than how a particular project would affect his career. But, in the words of another former Enron manager, "he was Skilling's fair-haired...
...Fastow is married to a woman he met at Tufts, Lea Weingarten, whose family built a supermarket and real estate empire based in Houston. They were not social climbers, for good reason. "Lea is from an old Houston family," says Marti Mayo, executive director of the Contemporary Arts Museum. "She didn't need to move anywhere. She was there." For most of the Roaring Nineties, the Fastows did not play the power couple; instead they lived like other professionals in the West University area and raised two children. They worked together at Enron's finance divisions in the early...
...Collection, one of the city's contemporary-art museums. They were accumulating edgy contemporary art--not just for themselves but also for Enron's new 40-story Cesar Pelli skyscraper. Lea took charge of the firm's art purchases, which included sculptures by Claes Oldenburg and Martin Puryear. The Fastows had plans to be big givers; they channeled $4.5 million, reaped from a $25,000 investment in one of his deals, to the Fastow Family Foundation...
...Friends and acquaintances saw Fastow as a low-key family man. Attorney Robert Lapin, who has known him for a dozen years, calls him "modest, unassuming, not at all self-aggrandizing." At his temple, Congregation Or Ami, Fastow spent time helping shape some of the congregation's education programs along nontraditional lines. Says Rabbi Shaul Osadchey: "He was one of those people who could think outside...
...That may be why Skilling hired him in 1990 from Continental Illinois, a Chicago thrift that failed in the mid-'80s savings-and-loan bust. Fastow had a skill Skilling needed; he did asset "securitization," a means for banks to sell off risk in the form of securities backed by mortgages or other obligations...